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If you want to become a wholesale hair distributor, know it is challenging. As the hair industry is growing rapidly because of the high demand for hair extensions and wigs, it has opened the door for many business opportunities. As a wholesale distributor, one can cater to the needs of salons, beauty stores, and online retailers.
If you know the strategic approach to becoming a hair distributor, you will succeed in doing this business. If you are searching for strategies to become a successful hair business distributor, this blog is for you. Here, we will discuss all the main points you should know about as a distributor to run a successful business. Let's look at the hair industry market size to get an idea of how big that market is and analyze the future of this industry.
The global hair extension market was valued at 2.58 billion USD in 2023 and was projected to touch the market value of 2.7 billion USD in 2024. By 2032, it is expected to reach a 4.77 billion USD market with a CAGR of 7.3%.
According to reports, North America is the dominant market for selling and buying hair wigs and extensions. The global hair extension market is divided into three segments: synthetic, human, and animal hair. The human hair market is the most dominant and generates a hefty profit.
Becoming a hair vendor is not that simple because you need to know and implement rules to make your business successful. Here is a comprehensive guide that can help you achieve your end goal.
Before stepping into any business, one should have a full knowledge of the market for the desired business they want to start. Let's talk about hair products. You should be aware of the types of hair products available in the market, such as wigs, extensions, tools, and hair care products.
Then, decide which products you want to sell or which distribution business you want to start. Then, explore your target audience; which business sector demands will you be fulfilling, whether it's salons, e-commerce sellers, beauty stores, or something else?
Once it is decided, now is the time to become aware of all the latest trends related to your desired niche product market, for instance, whether synthetic hair is dominating the market, natural hair wings and extensions are being sold profitably, or animal hair wigs are loved by the audience or not.
The most important thing you should know before starting your hair business is who your competitors are, how they are running the company, and what the grey areas of their business are so that you can work on them and present them as strengths to customers.
To start any business, you must carefully execute a strategy covering everything from market research and product sourcing to marketing and financial management.
After deciding on your target audience and product niche, you should also make an informed decision when managing and investing finances. Determine how much money you will spend on your business, from product sourcing to shipping and logistics and everything else, including marketing your business. What prices will you be selling hair to the sellers or buyers, and what would be your profit margin?
Additional tips that will help you initially set your selling prices low include focusing on gaining trust and building relationships with your customers and gradually increasing the prices and profit margins when you become an established business with a trusted customer base.
Quality matters when it comes to wholesale business. If you want to become a hair vendor, decide how to source hair, whether you will partner with the manufacturers or import them from e-commerce marketplaces.
When choosing hair suppliers and manufacturers, inquire about the quality of the product before buying in bulk by asking for sample products, as most of the manufacturers provide free samples so that you can evaluate the quality.
Look for various product certifications to know the product's authenticity and ask them about its delivery timeline. India, Brazil, and Vietnam are favored regions for hair sourcing. Always ensure that you have a backup manufacturer and suppliers for your products in case of any political and geographical disruption so that it does not affect your business.
If you are looking for "how to become a hair distributor," the primary step you can never miss is setting up your distribution business. One should register their business and obtain the necessary licenses to help them do business in the regions where they want to expand.
Choose your business name and brand identity. Set up your business online on online B2B marketplaces or invest in developing your hair distribution business website. Your business website is essential as it increases your business's authenticity and helps you build your customers on your products.
Online B2B marketplaces like Tradewheel.com and exclusive platforms like BeauteTrade.com are the best options that one can explore to connect with hair manufacturers globally. On such platforms, you can have one-on-one communications with the global manufacturers.
You can negotiate the prices of products when buying in bulk, as various suppliers on such platforms offer flexibility over their product prices. On these platforms, you can also set up your business and create a seller account to sell hair wigs and extensions to retailers looking to source such products.
Deciding on sales channels is essential to bringing profit to your business. When distributing hair wigs and extensions for wholesale, one should consider online B2B marketplaces. These platforms include BeauteTrade.com, Tradewheel.com, and many others. These platforms have an extensive buyer network that you can explore and connect with reliable buyers whose demands align with your business goals for profitable business dealings.
Use social media platforms like Instagram and Facebook and join community groups on these platforms. Through networking in such groups, you can connect with genuine buyers.
One should opt for a proper warehouse when stepping into the distribution business to maintain the quality of hair extensions and wigs. Store products in a climate-controlled environment to avoid any damage to the products. Partner with reliable shipping companies who can offer customers timely product delivery and flexible shipping methods. Use inventory management software for accurate real-time tracking of products so you can never go out of stock on products in high demand.
Offer deals and discounts on hair wigs and extensions to buyers. Provide flexibility over prices and ensure high-quality product delivery with free sample products. Use digital marketing strategies like SEO to increase your business's sales and visibility and email marketing to reach a wider audience.
No matter whether you are doing business locally or internationally, doing business online within legal and regulatory guidelines is essential for the success of your hair distribution business. One should familiarise themselves with the import and export laws of the hair business.
Ensure you have all the necessary certifications and licenses for your hair distribution business to avoid legal issues when trading.
Once you establish your hair distribution business, gradually add more products from the same niche or different product lines, such as hair care products. Always stay up to date on the latest trends in the market. Build strong connections with your buyers, providing exceptional services so they can come again and speak well about your services.
Starting your own hair distribution business is a challenging task. This blog will discuss the steps to help you become a successful hair distributor. As the hair business is booming, people are looking for extensions and wigs that cater to their needs. You can source products from online B2B marketplaces. You can distribute them to your buyers with timely delivery, high quality, and affordable prices to retain your customers longer.
